J. M. Smucker (NYSE:SJM) Issues FY23 Earnings Guidance

J. M. Smucker (NYSE:SJMGet Rating) updated its FY23 earnings guidance on Tuesday. The company provided EPS guidance of $7.85-8.25 for the period, compared to the consensus EPS estimate of $8.92. The company issued revenue guidance of +3.5-4.5% yr/yr to $8.28-8.36 billion, compared to the consensus revenue estimate of $8.01 billion.J. M. Smucker also updated its FY 2023 guidance to $7.85-$8.25 EPS.

A number of research firms have issued reports on SJM. The Goldman Sachs Group raised their target price on J. M. Smucker from $107.00 to $111.00 in a research report on Thursday, February 17th. Citigroup dropped their price target on J. M. Smucker from $138.00 to $131.00 and set a neutral rating for the company in a research note on Wednesday, March 2nd. William Blair reissued a market perform rating on shares of J. M. Smucker in a research note on Tuesday, March 1st. UBS Group began coverage on J. M. Smucker in a research report on Wednesday, March 30th. They set a sell rating and a $123.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their target price on J. M. Smucker from $144.00 to $143.00 and set a neutral rating on the stock in a report on Wednesday, March 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, J. M. Smucker has an average rating of Hold and an average target price of $132.25.

SJM traded up $4.77 during midday trading on Tuesday, reaching $128.03. 17,604 shares of the company’s stock were exchanged, compared to its average volume of 1,112,396. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 0.57. The stock has a market capitalization of $13.89 billion, a PE ratio of 23.21 and a beta of 0.28. The business’s 50-day moving average price is $135.70 and its 200 day moving average price is $135.30. J. M. Smucker has a 1-year low of $118.55 and a 1-year high of $146.74.

J. M. Smucker (NYSE:SJMGet Rating) last released its earnings results on Tuesday, June 7th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.35. J. M. Smucker had a net margin of 7.31% and a return on equity of 11.30%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. J. M. Smucker’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts expect that J. M. Smucker will post 8.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $3.96 annualized dividend and a yield of 3.09%. J. M. Smucker’s dividend payout ratio is presently 74.58%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC lifted its position in shares of J. M. Smucker by 257.4% in the fourth quarter. Flagship Harbor Advisors LLC now owns 8,459 shares of the company’s stock worth $1,149,000 after purchasing an additional 6,092 shares in the last quarter. Barclays PLC raised its holdings in shares of J. M. Smucker by 42.1% in the fourth quarter. Barclays PLC now owns 231,762 shares of the company’s stock valued at $31,477,000 after buying an additional 68,670 shares during the last quarter. Millennium Management LLC increased its position in J. M. Smucker by 170.3% in the fourth quarter. Millennium Management LLC now owns 147,595 shares of the company’s stock worth $20,046,000 after purchasing an additional 92,988 shares during the period. Synovus Financial Corp grew its position in shares of J. M. Smucker by 29.6% during the 4th quarter. Synovus Financial Corp now owns 3,520 shares of the company’s stock worth $478,000 after buying an additional 804 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of J. M. Smucker by 31.3% during the 4th quarter. Advisors Asset Management Inc. now owns 22,918 shares of the company’s stock worth $3,113,000 after buying an additional 5,464 shares during the period. Hedge funds and other institutional investors own 83.02% of the company’s stock.

J. M. Smucker Company Profile (Get Rating)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking ingredient.

See Also

Earnings History and Estimates for J. M. Smucker (NYSE:SJM)

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